Electron paramagnetic resonance (EPR) can be detected optically, with a laser beam propagating perpendicular to the static magnetic field. As in conventional EPR, excitation uses a resonant microwave field. The detection process can be interpreted as coherent Raman scattering or as a modulation of the laser beam by the circular dichroism of the sample oscillating at the microwave frequency. The latter model suggests that the signal should show the same dependence on the optical wavelength as the MCD signal. We check this for two different samples [cytochrome c-551, a metalloprotein, and ruby (Cr3+:Al2O3)]. In both cases, the observed wavelength dependence is almost identical to that of the MCD signal. A quantitative estimate of the amplitude of the optically detected EPR signal from the MCD also shows good agreement with the experimental results.